Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:30 FOCUS LIST: WING, HALO, CELH, PI
4) 10:25 Stock Review – Semiconductors: SMH (ETF), KLAC, LRCX, MBLY, LSCC, ASML, NVDA, GFS, MTSI, AEHR, ON
5) 16:00 Stock Review – Biotech: XBI (ETF), IBB (ETF), AXSM, AMLX, RVNC, ALNY, ABBV, PRTA, RYTM, FDMT, PCVX
6) 20:55 Stock Review – Medical Products: DXCM, PODD, HRMY, TMDX, INSP, MMSI
7) 22:00 Stock Review – Watch List/General Ideas/Commentary: DECK, BOX, AYX, SPLK, IBKR
8) 24:45 Conclusion/Summary

Market Summary:
In this video, I review the positives and negatives I’ve discussed recently. Regarding the indexes, they are mostly in a range. The positive is that most of them are holding their 21-day EMAs. The negative is that they are having trouble getting through recent resistance. For example, a close above the 200-day continues to be a challenge for the S&P 500. If you were to ask me which way I think we will move out of this range, my honest answer is I don’t have any strong conviction either way. If there were more stocks setting up, I would have higher conviction that we could breakout to the upside, but for now, I prefer to be patient and wait for more clarity.

Regarding the Fed, in today’s meeting they raised interest rates 50 basis points as expected. In their statement, they suggested their terminal rate would be closer to 5.1%-5.25%. The market expectations were closer to 4.6%-4.75%. In other words, the Fed dot plots are suggesting 75 more basis points of rate hikes early next year. Regarding stocks, they mostly remain in a range. I’m not seeing too many breakouts, but they are not breaking down either. The conclusion remains the same: be patient and remain defensive. I am currently about 30% invested and I’m still waiting for stocks to prove themselves a little better. The good news is that there will be great opportunities coming out of this bear market, but it will require some patience until they appear. If you have any questions or would like me to review any charts, you can ask them during the next webinar which will be this Saturday, December 17th at 11AM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
12/14/22 S&P 500 ETF (SPY) seeing size buyers of 20,000 March $427 calls for $12M into afternoon weakness
12/14/22 Oil Services ETF (OIH) with 1500 March $300 puts sold to open $31.03
12/14/22 Clean Energy ETF (ICLN) with 2800 January 2025 $19 puts sold to open 1.95
12/14/22 Exxon (XOM) with 5000 Dec 30th $108 puts bought at $3.05 offers
12/14/22 Visa (V) with 2000 January 2024 $270 calls sold to open 9.50 to 9.30
12/14/22 Taiwan Semi (TSM) opening sale 2000 February $70 puts for 1.21
12/14/22 ON Semi (ON) with 3000 May $45 puts sold to open $1.55
12/13/22 S&P 500 ETF (SPY) buyer of 14,000 Dec 30th $406 calls at $7.97, adjusting the $396 calls
12/13/22 Russell 2000 ETF (IWM) buyer of 29,500 Jan $176 puts at $2.38, adjusting the $172 puts
12/13/22 Coinbase (COIN) large March $45 put buy 5000X at $11.80 as Dec. adjust
12/13/22 Intuitive Surgical (ISRG) buyers active for over 500 May $280 calls at $29.50 to $31
12/13/22 Microsoft (MSFT) over 6000 March $295 calls bought for $4.20, adjusting the Dec $250 calls higher
12/12/22 Russell 2000 ETF (IWM) large sweep buyer of 10,000 Feb. $188 calls $4.91
12/12/22 Oil Services ETF (OIH) with 4000 January 270 puts opening for $5,.4M as Dec. 280 adjust
12/12/22 Chevron (CVX) opening seller 20,000 March $200 calls with Dec. short calls adjusting
12/12/22 Visa (V) spread sells 2925 March $185 puts to buy $220/$245 call spreads as Dec $210 calls adjust out
12/12/22 Axsome Therapeutics (AXSM) with 680 Jan. 2024 $30 deep ITM calls opening for $3.5M
12/12/22 Amazon (AMZN) opening sale 1000 Sep. 2024 $75 puts for $9.40
12/12/22 Datadog (DDOG) with a massive block of 12,500 June $110/$130 call spreads being bought for $2.88
12/12/22 Apple (AAPL) seeing 8600 December 30th $150/$135 bull risk reversals open at $0.40 credits
12/12/22 Caterpillar (CAT) with 2500 May $210 puts sold to open at $10.85, adjusting bullish risk reversals and short puts in January